Palo Alto Networks, Inc. $PANW Shares Sold by CMH Wealth Management LLC

Key Points

• CMH Wealth Management cut its Palo Alto Networks position by 9.6% in the third quarter, selling 5,488 shares and retaining 51,685 shares valued at approximately $20.5 million. Institutional investors collectively own 79.82% of PANW.
• Analyst sentiment remains favorable, with 39 Buy ratings and 11 Holds, an overall “Moderate Buy” consensus, and an average price target of $398.55. Several firms recently raised their targets, including RBC to $475.
• Palo Alto Networks reported quarterly revenue of $3.41 billion, up 34.5% year over year, and adjusted earnings of $1.02 per share, exceeding estimates. Shares opened at $354.92, while insiders sold more than $20.8 million of stock over the past 90 days.

CMH Wealth Management LLC cut its position in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 9.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,685 shares of the network technology company's stock after selling 5,488 shares during the quarter. Palo Alto Networks comprises 3.1% of CMH Wealth Management LLC's investment portfolio, making the stock its 8th biggest position. CMH Wealth Management LLC's holdings in Palo Alto Networks were worth $20,535,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. purchased a new position in shares of Palo Alto Networks during the second quarter worth about $25,833,462,000. State Street Corp grew its stake in Palo Alto Networks by 4.2% in the 2nd quarter. State Street Corp now owns 36,979,497 shares of the network technology company's stock worth $12,610,748,000 after buying an additional 1,493,179 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of Palo Alto Networks by 0.9% in the 2nd quarter. Bank of America Corp DE now owns 22,681,876 shares of the network technology company's stock worth $7,734,973,000 after buying an additional 205,123 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Palo Alto Networks by 8.7% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,778,963 shares of the network technology company's stock worth $2,993,802,000 after buying an additional 706,003 shares during the last quarter. Finally, First Trust Advisors LP raised its position in shares of Palo Alto Networks by 4.4% during the 1st quarter. First Trust Advisors LP now owns 6,466,118 shares of the network technology company's stock valued at $1,036,648,000 after buying an additional 273,103 shares in the last quarter. 79.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PANW has been the subject of a number of research analyst reports. BNP Paribas Exane lifted their price objective on shares of Palo Alto Networks from $380.00 to $400.00 and gave the stock an "outperform" rating in a report on Wednesday, September 2nd. Stephens set a $400.00 target price on shares of Palo Alto Networks and gave the company an "equal weight" rating in a report on Wednesday, September 2nd. Royal Bank Of Canada lifted their target price on shares of Palo Alto Networks from $434.00 to $475.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 2nd. Northland Securities set a $360.00 target price on shares of Palo Alto Networks and gave the stock a "market perform" rating in a research report on Wednesday, September 2nd. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $425.00 price target on shares of Palo Alto Networks in a research note on Tuesday, September 8th. Thirty-nine analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $398.55.

Palo Alto Networks Trading Up 2.2%

PANW opened at $354.92 on Friday. Palo Alto Networks, Inc. has a one year low of $139.57 and a one year high of $432.33. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.87 and a quick ratio of 0.87. The business has a 50 day simple moving average of $369.41 and a two-hundred day simple moving average of $307.28. The firm has a market capitalization of $290.32 billion, a price-to-earnings ratio of 695.94, a PEG ratio of 9.99 and a beta of 0.93.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last issued its quarterly earnings data on Tuesday, September 1st. The network technology company reported $1.02 earnings per share for the quarter, topping analysts' consensus estimates of $0.98 by $0.04. Palo Alto Networks had a return on equity of 8.50% and a net margin of 2.67%. The firm had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.35 billion. During the same period last year, the company earned $0.95 EPS. The business's quarterly revenue was up 34.5% compared to the same quarter last year. Palo Alto Networks has set its FY 2027 guidance at 4.160-4.190 EPS and its Q1 2027 guidance at 0.960-0.980 EPS. Analysts predict that Palo Alto Networks, Inc. will post 2.31 EPS for the current year.

Insiders Place Their Bets

In other Palo Alto Networks news, Director James Goetz sold 20,000 shares of the company's stock in a transaction on Thursday, September 17th. The shares were sold at an average price of $376.68, for a total value of $7,533,600.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Dipak Golechha sold 27,500 shares of the firm's stock in a transaction dated Thursday, September 24th. The stock was sold at an average price of $391.60, for a total transaction of $10,769,000.00. Following the completion of the sale, the executive vice president directly owned 117,750 shares of the company's stock, valued at approximately $46,110,900. This represents a 18.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 54,210 shares of company stock worth $20,823,029. Company insiders own 1.40% of the company's stock.

About Palo Alto Networks

Palo Alto Networks, Inc NASDAQ: PANW is a global cybersecurity company that helps organizations protect networks, cloud environments, endpoints, and digital infrastructure. Its offerings are designed to prevent cyberattacks, identify security risks, monitor activity, and support incident response across enterprise, government, and service-provider environments.

The company's portfolio includes network security products such as next-generation firewalls and security operations tools; Prisma, its cloud security platform; and Cortex, a suite focused on endpoint protection, threat detection, security analytics, and automated response.

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